Malaysia
nuclear imaging equipment market is anticipated to grow significantly in the
projected period of 2028 that is driven by the prevalence
of chronic diseases and immense advancements in technology. Radionuclide imaging techniques, often known as
nuclear medicine procedures, are noninvasive and typically painless medical
examinations that aid doctors in the diagnosis of medical disorders.
Radiopharmaceuticals or radiotracers, which are radioactive substances, are
used in these imaging scans. Small amounts of radioactive material are used in
nuclear medicine, a subspecialty of medical imaging, to diagnose or treat a
wide range of illnesses, such as various cancers, heart conditions, and other
abnormalities of the body. Nuclear imaging analyses the function of the organ,
tissue, or bone to identify the root cause of the medical issue. Nuclear
imaging is distinct from X-rays, ultrasounds, and other diagnostic procedures, since
they identify the presence of disease based on structural features.
The market is primarily driven by the increasing prevalence of chronic diseases
such as cancer, cardiovascular diseases, and neurological disorders. Also,
there is a growing awareness among patients and healthcare providers about the
importance of early diagnosis and treatment of diseases. The nuclear imaging
equipment plays a crucial role in early detection of diseases, enabling timely
intervention and better patient outcomes. The nuclear imaging equipment
market in Malaysia is expected to grow significantly in the coming years,
driven by factors such as increasing healthcare spending. Malaysia came in
first place with a score of 95 out of 100, in the Best Healthcare in the World
category of the 2019 International Living Annual Global Retirement Index. With the increasing demand
for advanced medical technologies, such as nuclear imaging equipment, healthcare
providers are expected to invest heavily in new and advanced imaging
technologies to improve patient care. As such, the Malaysia nuclear imaging
equipment market is expected to grow. Furthermore, advancements in nuclear imaging technology,
such as the development of hybrid imaging systems that combine positron
emission tomography (PET) and computed tomography (CT) or magnetic resonance
imaging (MRI), are further driving the market growth. These systems offer
improved accuracy and precision in diagnosis and treatment, leading to better
patient outcomes, which is expected to grow the Malaysia nuclear imaging
equipment market. Nuclear imaging may be able to treat and cure new diseases due
to the advancements in pharmaceuticals. Images are crisper, acquisitions happen
faster, and the radiation burden on patients is lower because of improved
cameras and better detectors. Thus, AI may prove to be a valuable tool for
doctors, which can augment the growth of Malaysia nuclear
imaging equipment market.
Rising Cases of Chronic
Diseases is Booming the Malaysia Nuclear Imaging Equipment Market
The nuclear imaging equipment market is expected to
grow at a steady rate in the coming years. To facilitate early and accurate diagnosis
of chronic diseases, monitor disease progression, and direct treatment
decisions, there has been an increasing demand for advanced nuclear imaging
equipment technologies in Malaysia. One of the key drivers of this growth is the increasing
incidence of cancer and chronic illnesses. As the population ages, the
incidence of these diseases is expected to rise. In addition, chronic illnesses such as cardiovascular
diseases, diabetes, and neurological disorders are also expected to increase in
prevalence. This will drive the demand for nuclear imaging equipment as a key
tool in the diagnosis and treatment of these diseases. According to the Malaysia
Ministry of Health, in 2019, approximately 64% of deaths in Malaysia were attributed
to chronic diseases, with cancer and cardiovascular diseases being the leading
causes of death. In this regard, nuclear imaging equipment is essential
because it allows for the early detection and monitoring of chronic diseases,
prompting timely interventions and better patient outcomes. According to WHO
Statistical Information System, in 2020, cardiovascular disease death rates in Malaysia
was 25% lower than the United States.
Growing Adoption of Hybrid Imaging
Hybrid imaging combines two or more imaging modalities
to provide more accurate and detailed images of the body. For example, positron
emission tomography (PET) and computed tomography (CT) can be combined to
produce PET-CT scans, which provide both functional and anatomical information.
Similarly, single-photon emission computed tomography (SPECT) and CT can be
combined to produce SPECT-CT scans. These hybrid modalities are becoming increasingly
popular in the medical field, as they provide more information than traditional
imaging techniques. Hybrid modalities provide more information than traditional
imaging techniques, which can lead to more accurate diagnoses and better
treatment outcomes. Additionally, hybrid modalities can reduce the need for
multiple imaging studies, which can save time and reduce costs for both
patients and healthcare providers. According to WHO, currently, it is anticipated
that healthcare will account for around 7.25% of the nation's GDP. This is anticipated to rise because of population
growth, an increase in life expectancy, and rising government spending on better
healthcare infrastructure and services. The growing popularity of hybrid modalities is likely
to drive the growth of the nuclear imaging equipment market.
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Rising Cases of Breast Cancer is Booming the Malaysia
Nuclear Imaging Equipment Market
Breast cancer is one of the most common cancers
affecting women worldwide, including Malaysia. Nuclear imaging equipment,
including PET/CT and SPECT/CT, plays a crucial role in the early detection and
diagnosis of breast cancer, leading to increased demand for these imaging
modalities in the Malaysian healthcare system. The Malaysian government and healthcare
sector have recognized the importance of nuclear imaging equipment in breast
cancer diagnosis and treatment, leading to an increase in breast cancer drives
in the country. These drives aim to raise awareness about breast cancer and the
importance of early detection, encouraging women to undergo regular breast
cancer screenings. According to National Library of Medicine, breast cancer is
the most frequently diagnosed cancer in women of all ethnic groups, and it is
highly prevalent in Malaysia, where one (1) in every nineteen (19) women is at
risk of developing breast cancer. The Malaysian government has launched
several initiatives to promote early detection and treatment of breast cancer,
including free mammography screenings for women above the age of 40 and
subsidies for breast cancer treatments. In addition to breast cancer, nuclear imaging
equipment is also used for the diagnosis and treatment of other types of cancer,
including lung, prostate, and bone cancer. The growing prevalence of these cancers
in Malaysia is expected to further drive the growth of the nuclear imaging
equipment market in the country. According to World Health Organization,
Malaysia reported 8418 new cases for breast cancer in 2020, followed by 6597
new cases for colorectum cancer.
Recent Developments
- In December 2022, Siemens
Healthineers AG (SHLG.DE) and General Electric Co's (GE.N) healthcare division acquired
two divisions, patient monitoring and respiratory interventions, that Medtronic
Plc (MDT.N) was spinning off.
- In July 2022, GE HealthCare launched a one-year
partnership with The International Atomic Energy Agency (IAEA) under Rays of
Hope (cancer care for all).
Market Segmentation
Malaysia nuclear imaging
equipment market is segmented into type,
application, end user, company,
and regional distribution. Based on type, Malaysia nuclear imaging
equipment market is divided into PET
imaging systems and gamma camera imaging systems. Based on application, malaysia nuclear imaging equipment market is categorized
into oncology, cardiology, neurology, and others. Based on end user, malaysia nuclear imaging equipment market is categorized
into hospitals
& clinics, diagnostic imaging centers, and others. Based on region, the malaysia
nuclear imaging equipment market is segmented into the East Malaysia and the West
Malaysia.
Company Profiles
Siemens Healthcare, Fujifilm
Holdings, Philips Healthcare, GE Healthcare, Taiyo Nippon Sanso Corporation, Canon
Medical Systems Limited, Abex Medical System Sdn. Bhd., Otsuka holding co., ltd.,
Cardinal Health, Inc, and Novartis AG are some of the key players of Malaysia nuclear
imaging equipment market.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million, Volume in tons and CAGR for
2018-2022 and 2023-2028
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Report Coverage
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Revenue forecast,
volume forecasting, Company shares, competitive landscape, growth factors,
and trends
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Segments Covered
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Type
Application
End User
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Country Scope
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The East
Malaysia and The West Malaysia
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Key Companies Profiled
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Siemens
Healthcare, Fujifilm Holdings, Philips Healthcare, GE Healthcare, Taiyo Nippon
Sanso Corporation, Canon Medical Systems Limited, Abex Medical System Sdn.
Bhd., Otsuka holding co., ltd., Cardinal Health, Inc, Novartis AG
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Customization Scope
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10% free report customization with purchase.
Addition or alteration to country, regional & segment scope.
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Pricing and Purchase Options
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Avail customized
purchase options to meet your exact research needs. Explore purchase options
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Delivery Format
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PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
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Report Scope:
In this report, the Malaysia nuclear imaging equipment market has been segmented into the following categories, in addition
to the industry trends, which have also been detailed below:
- Malaysia Nuclear
Imaging Equipment Market, By Type:
- PET Imaging
Systems
- Gamma Camera
Imaging Systems
- Malaysia Nuclear
Imaging Equipment Market, By Application:
- Oncology
- Cardiology
- Neurology
- Others
- Malaysia Nuclear Imaging Equipment Market, By End
User:
- Hospitals &
Clinics
- Diagnostic Imaging Centers
- Others
- Malaysia Nuclear
Imaging Equipment Market, By Region:
- The
East Malaysia
- The
West Malaysia
Competitive landscape
Company Profiles: Detailed analysis of the major companies in Malaysia
nuclear imaging equipment market.
Available Customizations:
With the given market data, TechSci Research offers customizations
according to a company’s specific needs. The following customization options are
available for the report:
Company
Information
- Detailed analysis and profiling of additional market players
(up to five).
Malaysia nuclear imaging equipment
market is an upcoming report to be released soon. If you wish an early delivery
of this report or want to confirm the date of release, please contact us at [email protected]